A popular Australian brewery is on the brink of collapse as restructuring practitioners urgently look for a buyer or a way to turn its fortunes around.
Four businesses that formed the group of companies behind Victorian-based Deeds Brewing went into voluntary administration on Wednesday.
The “proudly independent” Deeds Brewing operates a brewery, distillery and canning and bottling facilities, headquartered in Melbourne.
Deeds Brewing had also ventured out into a more customer-facing business, opening its own kitchen and taproom in the southeast Melbourne suburb of Glen Iris.
Its recent plunge into administration leaves the fate of all 50 of its staff members hanging in the balance.
The four businesses are Deeds Group Pty Ltd, Deeds Taproom Pty Ltd (trading as Deeds Taproom and Kitchen), Deeds Brewing Company Pty Ltd, and Future Proof Distilling Pty Ltd.
The award-winning brewery had more than 23,000 followers on Instagram but has not mentioned the recent administration appointment to its fans.
Deeds Brewery had a presence in both the retail and wholesale sides of Australia’s craft beer market.
Glen Kanevsky and David Orr, from accounting firm Deloitte’s turnaround and restructuring department have been appointed…